Ferguson (NYSE:FERG) Upgraded at Wall Street Zen

Key Points

• Ferguson was upgraded from a "hold" rating to a "buy" rating by Wall Street Zen on Monday, reflecting increased confidence from analysts.
• Multiple analysts have raised their target prices for Ferguson, with Barclays setting a target of $273.00 and Wells Fargo increasing it to $275.00.
• Ferguson's recent earnings report showed $3.48 earnings per share, surpassing estimates by $0.48 and generating a revenue of $8.50 billion.

Ferguson (NYSE:FERG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Monday.

FERG has been the subject of a number of other reports. Barclays raised their target price on Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. Oppenheimer raised their target price on Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Wells Fargo & Company raised their target price on Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, September 17th. Weiss Ratings restated a "buy (b-)" rating on shares of Ferguson in a research note on Wednesday, October 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of Ferguson in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and an average price target of $237.14.

Ferguson Stock Performance

Shares of NYSE FERG opened at $237.02 on Monday. The company has a market capitalization of $46.45 billion, a PE ratio of 25.38, a PEG ratio of 1.95 and a beta of 1.17. The firm's fifty day moving average is $230.41. Ferguson has a 52-week low of $146.00 and a 52-week high of $243.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson (NYSE:FERG - Get Free Report) last announced its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.44 billion.

Insider Activity at Ferguson

In other news, CFO William Brundage sold 3,000 shares of the business's stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $233.32, for a total transaction of $699,960.00. Following the completion of the transaction, the chief financial officer directly owned 52,631 shares in the company, valued at approximately $12,279,864.92. The trade was a 5.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James A. Paisley sold 3,000 shares of Ferguson stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total value of $710,910.00. Following the transaction, the insider owned 2,211 shares in the company, valued at $523,940.67. This trade represents a 57.57% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,264 shares of company stock worth $6,853,349. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ferguson

Several institutional investors have recently modified their holdings of FERG. True Wealth Design LLC lifted its holdings in shares of Ferguson by 145.3% during the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company's stock valued at $28,000 after purchasing an additional 77 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Hemington Wealth Management lifted its holdings in shares of Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. Brooklyn Investment Group lifted its holdings in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after purchasing an additional 115 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Ferguson by 230.8% during the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company's stock valued at $37,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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